💵 According to U.Today: Key Reasons Behind $DOGE Massive Price Urge
Dogecoin, the chief meme coin, has stolen the spotlight with a 10% price jump over the past 24 hours.
According to data provided by Santiment, dormant whales moving DOGE back into circulation are behind the significant price move. Notably, $5.5 million worth of Dogecoin shorts has been liquidated over the past 24 hours alone.
At the moment of a report, DOGE is trading at:
- $0,20708 on KuCoin exchange
- $0,20726 on WhiteBIT exchange
- $0.2071 on Coinbase exchange
According to data provided by IntotheBlock, 88% of Dogecoin holders are in the money at current prices. Last week, it was revealed that Dogecoin whales managed to snap up a shopping $280 million worth of DOGE in just two weeks. This preceded the substantial price surge that was observed at the end of the previous week.
As reported by U.Today, it was crucial for Dogecoin to surpass the $0.20 level ahead of the monthly close. The meme coin managed to achieve this feat, printing a monthly close above $0.22. Now, according to some predictions, the most successful Bitcoin parody might be ready for further upside. However, its future price performance will, of course, depend on broader market conditions.
